Singtel rises on higher earnings, dividend bump

Strong half-year earnings and a dividend bump lifted Singtel’s share price more than 5 per cent last week to $4.86 at the Nov 14 close.

- Tay Hong Yi Correspondent

The mainboard-listed telecommunications company on Nov 12 reported net underlying profit of $1.35 billion for the first half ended Sept 30, up 14 per cent from the same period a year earlier.

Net underlying profit, from which dividends are paid, excludes one-off and exceptional items.

Singtel plans to pay an interim dividend of 8.2 cents a share, up 17 per cent from the same period in its last financial year.

Net profit for the half-year rose to $3.4 billion from $1.2 billion a year ago, after accounting for one-off gains from a partial stake sale in Indian associate Bharti Airtel and the merger of Singtel’s Thai associate Intouch Holdings with Gulf Energy Development.